Western Australia

A Victorian investor has spent $6.3 million on a retail asset in coastal Halls Head, near Mandurah. CBRE Retail Investments agents Anthony Del Borrello and Richard Cash said their deal is the first for a Western Australian shopping centre to settle post COVID-19. On the south east corner of Peelwood and Glencoe parades, also with

Mair Property Funds has purchased two suburban offices, in Melbourne and Perth – completed the renovation of one, and successfully closed the $60.6 million flagship trust which will hold them – in what has been a busy few months. The most valuable asset, 6-8 Compark Circuit in Mulgrave (pictured, top and right), is MPF Diversified

Seven West Media is selling its Perth headquarters to a special purpose Primewest trust following a $75 million off-market deal. The Osborne Park facility occupied by West Australian Newspapers and TVW7 is trading with a 15 year leaseback. Based on the vendor’s starting net annual rent ($4.3m), Primewest Media Trust is buying it on a

Australia Post has rented a 6500 square metre portion of Charter Hall’s Kewdale Distribution Centre in south east Perth. The occupier needed the space to handle increased freight movement coming as a consequence of the current economic environment, according to JLL’s Andrew Fife, who is marketing the property with colleague Nick Goodridge. It is the

Nigel Satterley and other investors in a Satterley Property Group syndicate have sold the Austin Lakes Estate in South Yunderup, for $19.7 million. The price falls far short of the $33m guide attached to the 630 hectare parcel when it hit the market in 2018. At the time, the vendors wanted to invest proceeds into

Fortescue Metals Group has leased a modern office warehouse near Perth Airport. The Western Australia based iron ore producer has committed to the 1670 square metre facility, 9 Longfellow Court, Belmont, for five years. The address is off Abernethy Road, six kilometres west of Perth Airport and industrial precincts at Kewdale and Welshpool. Belmont is

A north Perth office predominantly leased to Centrelink has traded for $8.9 million. Colliers International’s Wayne Lawrence and Tory Packer sold 24 Chesterfield Road, Mirrabooka, off-market. Across a floor, the 3696 square metre building is eight per cent vacant. The government is on a six year rental agreement for its portion while the weighted average

A modern showroom in Perth’s north west Osborne Park sold for $11.75 million following a private treaty campaign launched last year. The c6862 square metre mixed retail and industrial investment at 21 King Edward Road spreads over 1.06 hectares of Development zoned land, configured with 78 car parks. Based on the fully-let annual return ($803,781

Engineering firm Aerison will consolidate from two West Perth offices to another after signing a 1650 square metre lease deal. The 52 year old business currently operates at Kings Park Road and Altona Street. It is headed to a five-storey, A-grade 3700 square metre commercial building at 56 Ord Street completed by Iris Residential in

Six months after Harmony Agriculture and Food went into liquidation, 900 hectare beef cattle feedlot WestBeef has been listed by receiver National Australia Bank. At 46 Watson Road, Burakin, near Lake Moore, about 250 kilometres north east of Perth, the livestock logistics asset is registered to fatten 7500 cattle units headed for abattoirs. Colliers International’s

Charter Hall Retail REIT has sold a shopping centre in the Western Australia top end town of Carnavon. The $16.1 million off-market deal for Carnavon Central is to an Adelaide based syndicate. At 35-55 Robinson Street, at the south west corner of Olivia Terrace and also with frontage to Alexandra Street, the neighbourhood complex is

Dorado Property has paid $24.25 million for a modern office at the northern tip of the Perth CBD. The four-storey 4637 square metre commercial building at 12 Newcastle Street, on the north west corner of Lord Street, sits above the westbound entrance to the Graham Farmer Freeway Tunnel, between Royal Perth Hospital and Claisebrook train

The Property Council of Australia released its twice annual Office Market Report today. The national stock comparison showed vacancy in Adelaide and Perth improved since the 2H19 (known in industry circles as ‘the July’) OMR. Melbourne’s CBD had he highest occupancy rate of any capital – at 96.8 per cent. The PCA said more than

An institutional grade industrial investment in Perth’s south has sold for $20 million. The state of the art complex on an 8.4 hectare island site at 150 Quill Road, Henderson, was developed by Matrix Composites and Engineering to occupy, 10 years ago. Matrix offered the holding with a 20-year leaseback. Part of one of the

A Perth fund manager has spent $7 million on an industrial investment in that city’s north. The Malaga site at 380 Victoria Road is trading on an 8.57 per cent passing yield. Covering 1.51 hectares, the holding includes two fully leased buildings containing 8435 square metres of lettable area. The weighted average lease expiry (WALE)

Primewest has settled on the $33.1 million purchase of a six storey West Perth office (pictured top and below). Vendor Warrington Capital acquired 66 Kings Park Road in 2017 for $16.1 million – a huge discount on the $46.5 million paid in late 2007 by the previous owner, Tina Bazzo, wife of local developer Alan

The Dallas-based owner of video entertainment chain EB Games intends to close 19 of its 300-plus Australian stores by the end of the month. GameStop – the world’s biggest video game retailer – sent suppliers emails overnight confirming the news. Gaming website kotaku.com.au broke the story this morning, with this item. News of which stores

International Parking Group (IPG) is paying a speculated price of about $200 million for the car park component of Perth’s Queen Elizabeth II Medical Centre. The vendors, Catholic Super and Lendlease, were represented by the latter’s PPP advisory arm, Capella Capital, which ran the sale process from mid-year. IPG was advised by Planum Partners (a

Caltex – whose management last week rejected a takeover bid from Quebec’s Alimentation Couche-Tard, saying the $A34.50 per share offer under-valued the company – has sold a portfolio of 25 Australian service stations, for $136 million. The sites were identified as having a highest-and-best use outside of selling petrol. Targeted to residential developers, the properties

Scentre Group is paying AMP Capital Diversified Property Fund (ADPF) $575 million for a half share, and the management rights, of the Garden City Shopping Centre in Booragoon, about 14 kilometres west of the Perth CBD. The deal, negotiated by AMP Capital for the Fund – which will retain the other half – is the